Faulkner Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element per Month Variable Element per Container Refurbished Revenue $ 5,400 Employee salaries and wages $ 46,300 $ 1,200 Refurbishing materials $ 700 Other expenses $ 32,400 When the company prepared its planning budget at the beginning of August, it assumed that 23 containers would have been refurbished. However, 26 containers were actually refurbished during August. The amount shown for total expenses in the planning budget for August would have been: a. $111,904. b. $126,500. c. $122,400. d. $128,100.